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Celltrion to roll out record cash and stock dividends

Published: 13 Dec. 2024, 13:31 Updated: 13 Dec. 2024, 16:26

Celltrion's corporate logo [YONHAP]

Korean drugmaker Celltrion said Friday it will hand out its biggest-ever cash and stock dividends to its shareholders as part of efforts to boost shareholder value.

Celltrion has decided in a board of directors meeting to hand out 750 won ($0.50) and 0.05 units of its stock per share to its shareholders, according to company officials.

The move will result in a combined cash dividend payout of 153.7 billion won and a stock dividend payout of 10.25 million shares.

The dividends will be distributed after the decision is endorsed at a regular shareholders' meeting in March.

This marks the biggest-ever dividend payout in the company's history and the first stock dividend handout in two years, Celltrion said.

Celltrion said it will work to strengthen its shareholder return policy further as its corporate value remains underrated despite recent milestones, such as record sales of 881.9 billion won in the third quarter and the growth of its flagship products in the global market.

To boost shareholder value, the company has repurchased its shares worth 430 billion won this year and 1.25 trillion won last year.

Celltrion's shares were trading at 191,400 won, up 3.52 percent from the previous session's close, at 10:15 a.m.

The company earlier said it will work to achieve annual sales of 5 trillion won next year by introducing 11 products to the global market, including biosimilars and a new treatment for autoimmune diseases.

Yonhap